Energy Risk Ed's letter - A bumpy ride for those exposed to oil

Stella Farrington - Editor - Energy Risk

Crude oil has had another bumpy ride this year and so, therefore, has every corporation and sovereign nation that hasn't hedged its exposure to the commodity.

Brent crude – now the preferred global benchmark due to West Texas Intermediate's continued disconnect from global fundamentals due to delivery issues – opened the year at around the $95 per barrel (/bbl) mark. By April it had gained 33%, hitting $127/bbl, the highest price since its all-time highs of July 2008. Since April it has swung be